United of Omaha Final Expense Insurance

Final expense insurance is a kind of policy where the funeral and burial expenses are taken care of by the insurance company. Many people tend to overlook the benefits of final expense insurance policies, as they tend to be a sensitive issue.

When a loved member of the family passes away, the expenses involved in funeral charges can be substantial. Unless the deceased has invested in a comprehensive final expense policy, the funeral costs could involved could end up being quite burdensome on the savings of the other family members. Burial costs have seen a steep rise in recent times and on an average, the minimum costs involved could be upwards of $7,500. This can be a considerable financial hurdle for many families. Hence it would be wise to go in for final expense insurance that would help cover all costs related to the burial.  The insurance company would take care of all the funeral costs involved and the family can focus solely on bidding farewell to the departed without having to worry about finances.

On the other hand, the benefits from the insurance can also be used to cover medical and other debts, which may need to be covered for upon your passing. 

Once the expenses are covered, the family members can also donate the remaining proceeds to a charitable organization as a way of honoring your memory. Another alternative would be to leave money behind for your grandchildren. This could prove highly beneficial towards covering their college and tuition fees.

United of Omaha and Mutual of Omaha offer investors a comprehensive final expense insurance policy that brings with it many benefits. The benefactor named by the investor can directly draw the proceeds from the policy. The proceeds from the Whole Life Express plan can be used to address several financial concerns.

Benefits of Final Expense Insurance

Amounts up to the tune of $50,000 can be drawn.

Accumulates in cash value that can be drawn.

The rates do not increase for the entire duration of the policy.

Full death benefits can be obtained regardless of when the investor dies.

The benefits received are free of income tax deductions.

In most states the policy is issued up until the age of 85.

Non-tobacco users can avail special discounts as part of the policy.

Tips on how to derive the best out of your UOO/MOO Final Expense Insurance

Plan properly while buying your insurance policy to estimate how much your beneficiaries are entitled to receive upon your death.  You can choose your rates of premium depending on the amount of coverage you would like to gain from the policy. This type of policy does not require medical examinations and hence is applicable to a lot of families.

Unlike many other policies, which take considerable amount of time to pay the beneficiaries, in final expense the benefits can be obtained within 24 hours of the investor’s death. The policy is quick and efficient and will help the family members to carry out the final service as per plans.

The process from the policy can be used to cover burial costs that is inclusive of casket, burial plot, engraved head stones, transportation, legal fees, visitation, minister, funeral service and other probate costs. The remainder of the cash benefits received from the policy can be used to pay out outstanding debts like car loans, income tax, hospital bills, mortgage costs and also credit card expenses.  Hence final expense insurance can also be used to cover a variety of expenses as per your needs. It would be a wise idea to leave behind a certain portion of cash value for your loved ones, which may come in handy for them sometime in the future. Considering the continuing volatility of today’s economy this can never be a bad thing.

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